DDVIX vs. IRSAX

Last updated Jun 24, 2026

DDVIX (Delaware Value Fund) and IRSAX (Delaware Ivy Securian Real Estate Securities Fund) are both mutual funds - DDVIX is a Large Cap Value Equities fund managed by Delaware Funds, while IRSAX is a REIT fund managed by Delaware Funds. Over the past 10 years, DDVIX returned 8.02%/yr vs 7.64%/yr for IRSAX. A 0.62 correlation means they provide meaningful diversification when combined. DDVIX charges 0.68%/yr vs 1.20%/yr for IRSAX.

Performance

DDVIX vs. IRSAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Delaware Value Fund (DDVIX) and Delaware Ivy Securian Real Estate Securities Fund (IRSAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, DDVIX achieves a 6.26% return, which is significantly lower than IRSAX's 14.61% return. Both investments have delivered pretty close results over the past 10 years, with DDVIX having a 8.02% annualized return and IRSAX not far behind at 7.64%.

DDVIX

• 1D: -0.39%
• 1M: 0.33%
• YTD: 6.26%
• 6M: 5.82%
• 1Y: 17.73%
• 3Y*: 10.17%
• 5Y*: 6.36%
• 10Y*: 8.02%

IRSAX

• 1D: 0.76%
• 1M: -0.41%
• YTD: 14.61%
• 6M: 14.97%
• 1Y: 19.00%
• 3Y*: 18.74%
• 5Y*: 7.52%
• 10Y*: 7.64%

*Multi-year figures are annualized to reflect compound growth (CAGR)

DDVIX vs. IRSAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
DDVIX Delaware Value Fund	6.26%	11.38%	6.76%	2.09%	-3.60%	22.05%	0.65%	20.26%	-2.99%	13.64%
IRSAX Delaware Ivy Securian Real Estate Securities Fund	14.61%	7.28%	23.62%	9.53%	-25.47%	43.57%	-3.51%	24.13%	-5.69%	5.29%

Correlation

The correlation between DDVIX and IRSAX is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Feb 25, 1999	0.62

The correlation between DDVIX and IRSAX has been stable across timeframes, ranging from 0.59 to 0.68 - a consistent structural relationship.

Return for Risk

DDVIX vs. IRSAX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

DDVIX

DDVIX Risk / Return Rank: 33
DDVIX Sharpe Ratio Rank: 33
DDVIX Sortino Ratio Rank: 34
DDVIX Omega Ratio Rank: 31
DDVIX Calmar Ratio Rank: 39
DDVIX Martin Ratio Rank: 30

IRSAX

IRSAX Risk / Return Rank: 38
IRSAX Sharpe Ratio Rank: 33
IRSAX Sortino Ratio Rank: 29
IRSAX Omega Ratio Rank: 30
IRSAX Calmar Ratio Rank: 49
IRSAX Martin Ratio Rank: 48

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

DDVIX vs. IRSAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Delaware Value Fund (DDVIX) and Delaware Ivy Securian Real Estate Securities Fund (IRSAX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DDVIX	IRSAX	Difference
Sharpe ratio: Return per unit of total volatility	1.54	1.53	+0.01
Sortino ratio: Return per unit of downside risk	2.25	2.08	+0.18
Omega ratio: Gain probability vs. loss probability	1.27	1.27	+0.01
Calmar ratio: Return relative to maximum drawdown	2.23	2.56	-0.33
Martin ratio: Return relative to average drawdown	6.41	9.41	-3.00

DDVIX vs. IRSAX - Sharpe Ratio Comparison

The current DDVIX Sharpe Ratio is 1.54, which is comparable to the IRSAX Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of DDVIX and IRSAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

DDVIX vs. IRSAX - Drawdown Comparison

The maximum DDVIX drawdown since its inception was -53.49%, smaller than the maximum IRSAX drawdown of -72.03%. Use the drawdown chart below to compare losses from any high point for DDVIX and IRSAX.

Drawdown Indicators

	DDVIX	IRSAX	Difference
Max Drawdown Largest peak-to-trough decline	-53.49%	-72.03%	+18.54%
Max Drawdown (1Y) Largest decline over 1 year	-8.45%	-8.04%	-0.41%
Max Drawdown (3Y) Largest decline over 3 years	-18.35%	-16.26%	-2.09%
Max Drawdown (5Y) Largest decline over 5 years	-18.35%	-37.56%	+19.21%
Max Drawdown (10Y) Largest decline over 10 years	-37.52%	-40.71%	+3.19%
Current Drawdown Current decline from peak	-3.67%	-1.55%	-2.12%
Average Drawdown Average peak-to-trough decline	-8.16%	-13.22%	+5.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.93%	2.18%	+0.75%

Volatility

DDVIX vs. IRSAX - Volatility Comparison

The current volatility for Delaware Value Fund (DDVIX) is 3.72%, while Delaware Ivy Securian Real Estate Securities Fund (IRSAX) has a volatility of 4.84%. This indicates that DDVIX experiences smaller price fluctuations and is considered to be less risky than IRSAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DDVIX	IRSAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.72%	4.84%	-1.12%
Volatility (6M) Calculated over the trailing 6-month period	9.26%	10.03%	-0.77%
Volatility (1Y) Calculated over the trailing 1-year period	12.24%	13.45%	-1.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.58%	28.60%	-14.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.14%	25.64%	-8.50%

DDVIX vs. IRSAX - Expense Ratio Comparison

DDVIX has a 0.68% expense ratio, which is lower than IRSAX's 1.20% expense ratio.

Dividends

DDVIX vs. IRSAX - Dividend Comparison

DDVIX's dividend yield for the trailing twelve months is around 26.26%, more than IRSAX's 20.99% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DDVIX Delaware Value Fund	26.26%	28.24%	32.45%	11.92%	10.60%	25.18%	3.11%	4.87%	6.45%	4.02%	2.51%	2.75%
IRSAX Delaware Ivy Securian Real Estate Securities Fund	20.99%	24.77%	29.95%	9.61%	34.76%	13.03%	1.81%	9.69%	7.51%	12.71%	10.34%	5.88%

Frequently Asked Questions

Can I hold both DDVIX and IRSAX in my portfolio?

DDVIX and IRSAX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, DDVIX or IRSAX?

IRSAX has higher volatility (4.84%) compared to DDVIX (3.72%). In terms of maximum drawdown, DDVIX dropped -53.49% vs IRSAX's -72.03%.

Which has better risk-adjusted returns?

DDVIX currently has the higher Sharpe Ratio (1.54 vs 1.53), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.